Intuitive Machines (NASDAQ:LUNR) Stock Price Down 0.7% - Here's What Happened

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) shares were down 0.7% on Monday . The company traded as low as $21.20 and last traded at $21.73. Approximately 6,856,777 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 18,606,816 shares. The stock had previously closed at $21.89.

Analyst Ratings Changes

Several equities analysts have recently commented on LUNR shares. Benchmark upped their price target on Intuitive Machines from $10.00 to $16.00 and gave the company a "buy" rating in a research note on Friday, November 15th. Canaccord Genuity Group reduced their price target on shares of Intuitive Machines from $19.00 to $17.50 and set a "buy" rating for the company in a research report on Friday, December 6th. B. Riley lifted their price objective on shares of Intuitive Machines from $8.00 to $12.00 and gave the company a "buy" rating in a research note on Thursday, September 19th. Roth Mkm reaffirmed a "buy" rating and set a $10.00 price target on shares of Intuitive Machines in a report on Wednesday, September 18th. Finally, Cantor Fitzgerald lifted their price target on Intuitive Machines from $10.00 to $15.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $14.10.

Intuitive Machines Stock Down 0.6 %

The company has a market capitalization of $3.05 billion, a price-to-earnings ratio of -7.40 and a beta of 0.90. The business has a 50-day moving average price of $13.04 and a 200-day moving average price of $8.11.

Insider Activity at Intuitive Machines

In other Intuitive Machines news, CEO Stephen J. Altemus sold 61,432 shares of the company's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $11.00, for a total value of $675,752.00. Following the transaction, the chief executive officer now directly owns 910,919 shares of the company's stock, valued at $10,020,109. This represents a 6.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Kamal Seyed Ghaffarian sold 344,893 shares of the business's stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $8.02, for a total transaction of $2,766,041.86. Following the transaction, the director now owns 3,494,768 shares of the company's stock, valued at approximately $28,028,039.36. This represents a 8.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,954,713 shares of company stock worth $24,475,385 over the last three months. Company insiders own 73.68% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. State Street Corp increased its holdings in Intuitive Machines by 1.3% in the 3rd quarter. State Street Corp now owns 576,051 shares of the company's stock worth $4,637,000 after acquiring an additional 7,538 shares during the last quarter. Waldron Private Wealth LLC purchased a new position in shares of Intuitive Machines during the 3rd quarter worth approximately $83,000. Wedbush Securities Inc. bought a new position in shares of Intuitive Machines in the 2nd quarter worth about $35,000. The Manufacturers Life Insurance Company purchased a new position in shares of Intuitive Machines in the 3rd quarter worth about $85,000. Finally, SG Americas Securities LLC bought a new position in shares of Intuitive Machines during the third quarter valued at $93,000. 72.21% of the stock is owned by institutional investors.

About Intuitive Machines

Intuitive Machines, Inc designs, manufactures, and operates space products and services in the United States. Its space systems and space infrastructure enable scientific and human exploration and utilization of lunar resources to support sustainable human presence on the moon. The company offers lunar access services, such µNova, lunar surface rover services, fixed lunar surface services, lunar orbit delivery services, rideshare delivery services to lunar orbit, as well as content sales and marketing sponsorships; and orbital services, including satellite delivery and rideshare, satellite servicing and refueling, space station servicing, satellite repositioning, and orbital debris removal.